Introduction of geometric, distributed lag demand into energy-process models

Y.June Wu and J.David Fuller

Energy, 1995, vol. 20, issue 7, 647-656

Abstract: In this paper, we introduce the combination of an energy-process model with the geometric distributed lag demand, called the energy-GDL process model, as well as its solution technique. In an energy-GDL process model, the demand is represented by a function of the prices not only in the current time period but also in previous time periods, based on the geometric, distributed lag structure. The supply is a cost-minimizing linear process submodel. The software WATEMS-GDL (the GDL version of the Waterloo Energy Modelling System) is implemented for solving such a model. An example illustrating the procedure of modelling and equilibrium-seeking is given.

Date: 1995
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:20:y:1995:i:7:p:647-656

DOI: 10.1016/0360-5442(95)00007-4

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